BRITBONIC  Well thanks to info here, finally got my VL for Mac working successfully! I've been trying to figure this out for almost 2 years.

Here's the deal. I bought and paid for VL for iTunes Windows and Winamp several years ago. Switched everything to Mac just about the time Plantronics decided to discontinue. Problems is I couldn't transfer my license to Mac nor purchase a new one. Tried cracks and all kind of other hacks to no avail. When I found this forum today, was happy to learn discussion was still active. Followed advice in posting below to install newer esellerate engine, typed in Windows serial number and volia, no more demo mode. Thanks to those who posted. Hope this helps out others. Such a great product. Wish Plantronics would open source the code.  
(Version 1.3.2L)